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Regulation/Compliance

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U.S. Treasury Secretary Bessent: Congress Must Pass the Clarity Act to Establish Regulatory Rules for Digital Assets

According to The Wall Street Journal, U.S. Treasury Secretary Scott Bessent wrote on April 8 that the United States has long led in setting global financial market regulatory standards—but this leadership is not guaranteed. He urged Congress to promptly pass the Clarity Act to establish a clear regulatory framework for digital assets. Citing data, Bessent noted that global digital asset market capitalization fluctuated between $2 trillion and $3 trillion over the past year, and approximately one-sixth of Americans hold some form of digital asset. Applications of blockchain technology in payments, settlements, and physical asset exchange continue to expand. He emphasized that cryptocurrencies are no longer niche experiments but technologies undergoing broad global adoption—and the U.S. must take proactive steps to maintain its leadership in shaping rules for this domain.

Bitcoin Depot Hacked, Loses ~$3.66M in BTC

According to Decrypt, Bitcoin ATM operator Bitcoin Depot filed a disclosure with the U.S. Securities and Exchange Commission (SEC) revealing that it suffered a cybersecurity attack on March 23. Hackers infiltrated the company’s IT systems to obtain credentials for its digital asset settlement account and stole approximately 50.9 BTC—valued at roughly $3.665 million—from the company’s wallet. Following the incident, the company activated its incident response protocol, engaged external cybersecurity experts to conduct an investigation, and notified law enforcement authorities. Bitcoin Depot stated that its customer platform and user data remained unaffected. The company classified this event as a material matter, which may result in reputational damage and additional legal and regulatory costs.

Fed’s March Meeting Minutes: Rising Inflation Risks, Rate-Cut Expectations Pushed Back

The Federal Reserve’s March meeting minutes revealed that a majority of participants believe the process of inflation returning to 2% may be slower than previously anticipated, and the risk of persistently elevated inflation has increased. Rising oil prices stemming from tensions in the Middle East were viewed as potentially fueling inflation, heightening economic uncertainty, and posing downside risks. Regarding the policy path, an increasing number of participants see sufficient justification for adopting a “two-way” formulation—namely, raising rates remains possible if inflation does not clearly decline, while rate cuts may become necessary should the economy or labor market weaken. Some participants have further pushed back their expectations for the timing of rate cuts.

Yuga Labs Reaches Settlement in RR/BAYC Imposter NFT Lawsuit, Ending Nearly Four-Year Litigation

According to documents disclosed on April 7, 2026, by the U.S. District Court for the Central District of California, Yuga Labs and defendants Ryder Ripps and Jeremy Cahen have reached a settlement agreement resolving all claims in Case No. 2:22-cv-04355. The case originated in 2022, when Yuga Labs alleged that the two defendants had issued counterfeit “RR/BAYC” NFT collections mimicking the Bored Ape Yacht Club (BAYC), constituting trademark infringement. The parties will shortly file with the court a proposed consent injunction—a condition of the settlement—marking the formal conclusion of the case.